Of Revolution and Revolutionaries
Thanks, everyone, for the "day off" yesterday. I needed to step away and clear my head. A little fresh air always helps the cause. It's Friday. I'm back. And there are a few things we need to discuss.
First of all, the markets in general. I can't find a single one I like. The "dots" of impending collapse are everywhere. The challenge is to try to connect them...or at least connect them in a reasonably accurate manner that allows you to move with confidence. In the end, though the global central banks seem to have unlimited fiat with which to prop them up, worldwide equity markets look as if they are perilously close to outright collapse. And don't ever forget the ultimate, short-term benefit that would befall the U.S. should this occur, first eloquently brought to our attention by the great Tyler Durden nearly two years ago:
http://www.istockanalyst.com/article/viewarticle/articleid/3739425
As this pertains to the PMs, traders should exercise supreme caution here. As you can see on the charts below, a breakdown today could foreshadow even more weakness next week. As I mentioned Wednesday evening, given the unprecedented level of C/C/C manipulation we've seen, I doubt they're done. Lots of moving averages out there that might provide support levels but I'm sticking with my ruler and sharpie and they continue to show possible bottoms near $24 and $1480. Again, if you must trade, please be cautious.
Lastly, I've noticed that, nearly every day, discussion increases here regarding the ongoing protests in New York. Many here are very passionate about the dangerous and tenuous position in which the current system of crony capitalism and banker oligarchy has left us. Fine. Me, too. However, I do not feel that Marxism and Marxism-lite (socialism) is the answer.
Perhaps one or two of our NY-based turdites could venture down toward lower Manhattan tomorrow to ask a few questions of these peace-loving youths so many seem to idolize. Let's start with:
1) What is the Federal Reserve, what is it's function, when was it created and what policy are they currently following that is so ruinous to the life savings and purchasing power of the average citizen?
2) What is a Credit Default Swap and what role did it play in the 2008 financial crisis?
3) In hindsight the repeal of the Glass-Steagall Act in 1999 was not a very good idea. What was the Glass-Steagall Act and why was it important?
4) Going forward, which type of leader do you prefer? George Washington or Vladimir Lenin? Martin Luther King or Che Guevara?
I'm not going to wait for the answers. Why should I when I already have evidence like this:
Is this an intelligent, thoughtful group which seeks reform within the current capitalist system that has defined America for 235 years OR is this simply a group of mind-numbed, "useful idiots" blindly repeating the mantras of a marxist revolutionary? You decide.
Clearly, in managing the situation, some police officers have over-reacted. This is always disheartening. Given the mayhem that has accompanied similar anti-capitalism "protests" in cities such as Seattle and Toronto, it would seem that the NYPD is not looking to be overly-friendly. This does not mean, however, that our mantra is "F the Police". If you think that the police are the enemy, then I must ask you two questions:
1) The next time you are in trouble....from a home invasion, a simple assault or a car accident...who will you call? Maybe you can take of yourself just fine but who will your spouse call if you're not around? How about your daughter? How about your mother? Who will they call?
2) And how did you feel about the police on 9/12/01? Were you proud of them or did you go around yelling "F the police"? Then ask yourself: What has changed? Have the police changed or have I changed? Your honest answer to that question needs to be considered.
Ok, time to conclude this post. Please understand, I know that the current system is unsustainable and must be changed. I am not, however, throwing in my lot with this first batch of "protesters". Marxist revolutions only lead to tyranny and mass graves and I won't be a party to it. Instead, we need a revolution of personal freedom and responsibility. We must reclaim representative democracy and free enterprise. When that movement finally takes to the streets, count me in. To that movement only, I will happily pledge my life, my fortune and my sacred honor. TF
p.s. Given the "controversial" nature of this post, the comments sections will be closely monitored. All views and opinions are welcome but anyone not observing TurdWorld Rule #1 (treat others the way you want to be treated) will likely see their comments deleted. We need more peace and less hate in this world and I will not allow this site to promote anger and hostility. We are all on the same team here and we need to work together if we are going to survive the turbulence ahead.
Print
EmailThank you for supporting TF Metals Report. Your voluntary subscriptions and donations help keep this site alive!
DONATE TODAY!
Comments for "Of Revolution and Revolutionaries"FREE NEWSLETTER
Keep up with the latest TF Metals Report news. Subscribe to "This Week in Turdville" today!
Feed The Turd
TF Metals Report Podcast
-
April 3, 2013 - 3:22pm
-
April 1, 2013 - 5:33pm
-
March 29, 2013 - 10:43am
-
February 28, 2013 - 10:57am
-
February 27, 2013 - 12:29pm
Recent Comments
- Premature Destackulation by Silver Alert
- Way to go... by pennywise
- So here I am. San Fran. by redwood
- Capital Controls - Please Consider Carefully by Occasnltrvlr
- @JAKE If not for the buy back? by Utilitarian
This Month's Leaderboard
| Username | Hat Tips Earned | |
|---|---|---|
 | Mr. Fix | 2396 |
 | The Watchman | 2208 |
 | ancientmoney | 2085 |
 | AlexCojones | 1727 |
 | Pining 4 the Fjords | 1716 |
 | JakeBlues | 1665 |
 | Texas Sandman | 1432 |
 | Gold Dog | 1414 |
 | Bollocks | 1300 |
| SouthernCross | 1271 |
Comments
Is it Me or You?
Wow - it took me 3 hours to catch up on the posts in this thread (left about 10:30 MT, got back 1:30). You people are incredible writers or my reading speed is slowing down.
the one chart you don't want to see
This is weekly silver bear channel begun on May 1.
There's nothing that says we won't break out of it...channels and patterns break down all the time. But it's the worst-case TA scenario if you're a perma-bull on a short horizon.
I've always been one to reasonably sketch out my downside before putting my capital (fiat or otherwise) at risk. This channel space is how I define the silver downside risk in a 4th quarter deflation event similar to 2008. Of course just about everything else except the dollar and gold would be a lot lower too. And there would be a lot more layoffs and the like being announced. This is addition to the EU mess. Lots of pain for everybody.
I'm only posting this so you guys can - strategically hedge, plan to buy some really great dips or know when to stop watching the spot price move tick by tick and just go out for a walk or grab the skis (depending on your climate).
Oh yeah, I'm not a troll or gov't agent :)
Feel free to flame the heck out of this post. I'll crawl back to Pailin's Trading Corner...
Iran has a sense of humor or a death wish
White House, experts dismiss Iran naval threat to U.S. coast
(CNN) -- The White House on Wednesday dismissed an Iranian threat to deploy warships near the U.S. coast, and military experts said Iran lacks the naval capability to do so.
Overnight Tuesday, Iranian state news quoted a commander as saying his country plans to have a "powerful presence" near the U.S. border.
In response, White House spokesman Jay Carney said that "we don't take these statements seriously, given that they do not reflect at all Iran's naval capabilities."
..
http://www.cnn.com/2011/09/28/world/meast/iran-navy/index.html?iref=alls...
@Stormdancer - YOU OUT THERE?
@Stormdancer - YOU OUT THERE? I think I owe you an ASE. PM please.
pailin
lol...thanks for something metals related to break up the "Arrrggghhhhh!!!" that's going on.
Gold Correction Over, Expect $10,500 Gold..I Love This GUY
If you look back at 100 years of history, at the top of the bull market in hard assets in gold, that ratio comes back to 1 to 1. So think about the power of mathematics here, in the year 2000 it took 42 ounces of gold to buy 1 unit of the Dow, today it takes about 6 ounces of gold to buy one unit of the Dow.
The gold price has gone from $250 to roughly $1,650 today, so the gold price is up about $1,400. But to go from 6 to 1 (on the ratio), let’s say the Dow is at say 10,500, the gold price has to go from $1,650 to $10,500. So there is more left in the gold bull market than what we’ve seen over the past ten years. Am I bullish? Absolutely, 100%.”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/30_Pierre_Lassonde_-_Gold_Correction_Over,_Expect_$10,500_Gold.html
@ Kumanari
Thanks for your perspective. This forum can be stifling in its lack of diverse viewpoints. I too have spent some time on the wrong end of an interaction with law enforcement... anyone who has never forgets it.
On "trolls"
Anybody who thinks that another poster is a troll because they post a differing viewpoint, or they don't agree with what you say, or you don't agree with what they say, is an idiot.
Buyer beware of drinking too much Kool Aid. Listening to alternate viewpoints serves a very valuable purpose. Either it opens your eyes to the truth or, after due diligence, it strengthens your existing viewpoint. Why would you not run your personal beliefs through such a refiner's fire?
That critical thinking process is not one to be ignored or taken lightly. If all you browse are TF metals and KWN, then you are doing yourself a disservice.
I'm bullish on the metals. I'm also bullish on learning.
EDIT: is Pailin a troll? Of course not. What about that huge down channel he just posted? It's just the truth, that's all. He's still bullish, but he's not blind.
Oops didn't get the nod
But big hat tip for being a 'V for Vendetta' afficionado (if that is what you mean) or do you mean the bad horror TV drama? (http://en.wikipedia.org/wiki/V_(1983_miniseries)
Have seen both & hope it's the former!
(doning V for Vendetta mask 
)
RaRa
On a serious note: Don't see anyone mentioning this (although it has been all over the UK MSM)
http://www.guardian.co.uk/world/blog/2011/sep/30/anwar-al-awlaki-yemen-live
@DPH
Yeah I can't keep up with you guys here on Main St. Too much anything goes. I've got plenty of time-tested beliefs on many subjects and am open-minded enough to read/listen to alternate views but this place is generally chaos and too many paragraphs :)
Divide and Conquer Will Fail
http://www.zerohedge.com/contributed/%3F-older-posts-wall-street-protest...
@cpnscarlet
I'm here :). Please forgive me, I've been out all day and have to go out again. I'll be in touch within the next 8-12 hours without fail :)
@Dr. G TROLL ALERT!
Use your head, anyone who gets 67 hat tips in 30 seconds is a TROLL. Its just not possible..no matter how bullish or not we are.
They live here: http://www.bumhits.com
'Dr. Copper' as contrarian indicator?
Yes, extreme market caution is warranted. But some contrarian indicators are also present - levels of bearish outlook are very high. Another is that 'Dr. Copper' has been more of an indicator of future RISING stock prices than a predictor of upcoming equities bear market, as it is often touted as. Historical data does not lie.
http://takingmoneyseriously.blogspot.com/2011/09/dr-copper-needs-license...
Book Recommendation
For those interested in the topic of the main post, I would like to recommend a rather understated but important book on the subject. I believe we can learn much about the future by studying the past, especially the past of this country. Recently I read "The First American Revolution" by Ray Raphael. This book presents historical fact that has, for many reasons, not become part of the standard textbook narrative on the Revolution. I was not aware of it and doubt most people, even the well-educated, are. Basically before the Boston Tea Party, before Paul Revere's ride, before a shot was fired, the British had already lost control of the bulk of Massachusetts. The common country-folk accomplished this through forceful yet non-violent protest, basically refusing to adhere to undemocratic system of royal judicial appointments. Their methods included pressuring colonial bureaucrats by basically marching to their houses and demanding they renounce the royalist views. Although forceful, these protests never went so far as hanging or even tarring and feathering. They often punished loyalists by making them "march through the ranks with their hats off." They achieved, in a few short years, and without any bloodshed, what it would further take nearly a decade of war for the Continental Army to do. I believe this book is important to shed some light on successful methods and is in keeping with TF's view of the Wall Street protests, which I really do not have enough information at this point to judge.
The author later goes on to explain why the "history" of the Revolution we are taught is so different from what actually occurred. Basically, the Boston elites were the mainstream media of their day. They controlled the newspapers, politicians, and influence, and naturally played up their role in the Revolution. Also, massacres and skirmishes are naturally more interesting and make for a better narrative than non-violent protest and a completely democratic de-facto government. Finally, the author points out how although the whole of Massachusetts began and supported the rebellion, only the poor and desperate generally fought and suffered until the end. Some things never change. I encourage you to read this book if you're interested in the subject at hand.
A hard lesson...seeking advice and support.
First let me admit that I am a gambler, not a trader. I
have an addiction, and I think I am close to be mentally sick.
Secondly I am ashamed of myself.
I don't know why i am writing this message. I guess it's
because i have nowhere to go and no one to talk to in real
life. I am hoping to get some advice and support here.
Background: I came to understand a bit of the market and PM
from reading zerohedge, from there I came here. At the end
of the last year, I longed a big position in SLV calls, both
Jan/11 and Apr/11, only to see it got smashed down pretty bad
in Jan, the Jan calls all wiped out, and under the extreme
depression, i rushed to exit all my Apr calls as well with a
60% loss. Then i stayed away from the market, only to see
Silver had the historical run after the time I exit my calls.
Had I stayed with my Apr calls, (SLV 35) I'd look at 1,000%
gain instead of 60% loss. This episode put a big shadow in my
mind.
Recent trade: I was quite surprised by the drastic drop of the
Silver on last Th and Fr. Since I've been always bullish of PM
in my heart, the first thought jumped into my mind was to long
PM here. I didn't go long on Monday, for reasons I couldn't
explain to myself. I was busy in the morning, then in the
afternoon when i had some time, the AGQ already up to 110 from
the low of 98, i said to myself give it another day. Then next
morning it shoots up to 33, in a split of second, I made a terrible
beginner's mistake...I waited a little bit, and jumped in when
it's 32.5. Looking back, it was a terrible timing, but at that
moment, all i could think was there is no way Silver can not be
32.5 again, and i told myself to exit once it reaches 34-35.
It'd be a quick trade. On Tu, it couldn't hold 32; On Wed., it
went straight down to 30; Yesterday it could only manage to close
at 30.50, and today it needs a hard fight to even stay above
30 with Gold rises a little bit.
I have reasons to still believe that probably 60% chance it could
climb back to 31-32 within next week, also 40% it could drops back
to 28, or even below. Who knows...and with a big position in AGQ,
already looking at the loss of nearly 20%, I can't take the risk.
I exit my position before the close of the market when Silver
is at its lowest this week.
My lessons:
1) I am not a trader, the only thing I have is a gambling addiction.
I need to quit this market before I lose all my savings.
2) I am not sure about if the market is rigged or not, but I admit
that market is too big a force and individuals are hard to match
with government manipulation, machine bots, fed policy...all these
factors. There is no investing these days, only machines fight
each other.
3) Never forget risk control. Had i purchased SLV instead of AGQ,
and cut my size to half, I'd only have 25% of my original risk. Then
I probably will hold the positions tight and give it more time
to fight. I can't hold AGQ for long, and Silver is too volatile.
@ScottJ, @DrG...and all the others who replied my questions last few
days, I really appreciate that you took time to help me and support
me. I learned a lot in the short week. I share a lot of similar
thoughts with the rest of the board on our future, although I
probably will never trade PM again, I am still eager to learn from
you how to best prepare ourselves for the coming collapse.
Thank you all, and have a nice weekend.
400 Foot Drive
The information posted was great but I am curious...
Did JPM close at almost all of their silver shorts? If so, does this mean they no longer control the futures market? Does this mean their ability to dramatically push prices down has been greatly diminished?
Thanks.
Dr G
If I'm "an idiot" for confronting false and misleading information, then so be it. Thanks for sharing your view. I happen to agree with most of what you said there, aside from the fact you apparently don't know what a "troll" is.
Having been at this for well over a decade, long before KWN and ZH or Turd's site, I can assure you that I do know the difference between a "differing view" and a "troll".
@ ewc58 well said
EWC you echoed my sentiments perfectly !
closet hat tipper
Yup I hat tipped Zyphen.
I thought his opening spiel was well worth highlighting, for others to take note of.
Because Im always trying to catch up, I use hat scores tips as a way to get through the 6-9 pages of comments and Im sure others do the same.
I would comment more but Im usually hours behind the leading edge ......
A hat tip can do more than just show approval.
Oh and seeing as this is my first post since the move ( yeah I still check the 'Luddites Corner' at the Watchtower ) Its been great seeing the group grow and so many good people join Turdville. I am truly in awe of so many here.
Anyway a little disclosure to finish -
Just sold my house and hiding in rented while the financial storm plays out and feeling smug that Im ahead of TMoseley ( who anticipates some serious wedge showing up in a few weeks time) cos I got the lot into Goldmoneys Zurich account .... well, theres never a bad time to buy gold, is there .....
Down £58k in a few days !! ye-haaa. Good job metals are going to the moon then.
Seriously, Im not that bothered because there really are more important things than money and P.M's and those gold grammes will either come good or be stolen by 'bigger boys'.
rbl
You would think Iran has never seen this video
The only thing separating Iran from Iraq is a Q.
One false or stupid move by them and this happens x 10
Ahem.. Hey, room!
We're all having a lousy PM week. Let's not divide and conquer too much of ourselves on here.
Go for a walk and burn one or make a drink or eat some chocolate.....just sayin' .
Why i like Dr. G
"I'm bullish on the metals. I'm also bullish on learning." Way to sum it up Doc. That's why all the good ones are here too I think.
Tell me, how's that beautiful little baby and how's it coming catching up on those past episodes of Breaking Bad? Thank God she doesn't understand what Dad is listening to in the background eh?
"So.... there's that"
Enjoy your weekend
(No subject)
@ewc58
Regarding the post by Jessie, the line I liked most for it's frankness is;
As general rule of thumb, if you are the House in any game, you should not be able to also sit at the table as a player, internal confidentiality agreements notwithstanding. It really is just that simple.
On another note, as for Biblical passages I think the 2 most apropo to the majority of views here are Proverbs 20:10 and 20:23
Have a good weekend all.
@Always_Learning
I think you need to step back and assess. Based on your emotional decisions, it sounds like trading is not for you (it's not for me, either, btw, so don't take that as an insult, it's simply an observation).
Take what money you can spare for savings and buy physical at these levels, then sit back, have a beer, and ride out the storm.
The PM's are going up. Maybe not this week, maybe not next, but they will go up. It's a long-term thing. Don't try to profit from it in the short term (i.e. <12 months), or you may find yourself, well, where you are right now.
I'll admit I bought a 100-oz silver bar I probably shouldn't have when the prices were high and everyone was bullish. It's down about $1000 right now. Fortunately, I have enough cash on hand for monthly expenses that this won't be a big deal so long as, 6 or 12 months down the road, the PM's are back in style. I have the luxury of time, and don't consider this current slump to be anything more than a pothole on the road to success in PM's.
I'll further state I've bought a bit more silver since the big dip of last week. I have no regrets there, either, other than the fact that I don't have anymore cash I can afford to invest in PM's right now.
I buy only physical, and I sleep well at night. I know I don't have the proper experience or knowledge to be trading, so I don't trade.
stephanie Can we come together?
Wow, so much said there.. I'm still reeling that you were a Dem prior to '08, my background was the opposite. I saw a decrease in constitutional law, a shift of power to the "king", abdication of power from Congress & what looked to be a compromised Judicial branch and voted for "change". God help us the only change I see is what's left of my paycheck after funding unnecessary wars from both administrations as well as the catering to special interests (corporations, banking and war machines) at the expense of us all.
Much like the kids in the street, we all know something is wrong & approach understanding/truth from different angles/levels so our perspectives may differ to some extent but our focus is the same.
We all smell smoke, if we're to escape the fire we'd better put our heads together or none of us will get out alive.
@DPH
Yes, it's been a shitty week. And if that flash crash chart above is legit on todays close, we're opening up monday way down. Could be another rough patch ahead.
Hey, you know I like and respect Dr G. He should know that too. He's the Master Stacker around here.
Perspective before your weekend
Whats really important? Health for one. Simple video, but touching.
BSD
Revealing his true self/Dividing and conquering
Bloomberg Criticizes Occupy Wall Street Protest, Suggests Their Days May Be Numbered
First Posted: 9/30/11 03:43 PM ET Updated: 9/30/11 03:43 PM ET
By Michael Howard Saul, Wall Street Journal
New York City Mayor Michael Bloomberg raised the specter of shutting down a two-week long demonstration on Wall Street, telling protesters who are speaking out against greed and corruption that the banks deserve support...
http://www.huffingtonpost.com/2011/09/30/bloomberg-criticizes-occu_n_989424.html
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
DPH: And this guy wanted to be President? Didn't he have his term extended already as Mayor? Power drunk, ego-maniac is what I've been seeing and hearing about for years.